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Godrej Properties buys 4-acre land parcel in North-West Bengaluru

The recent project by Godrej Properties is estimated to have a developable potential of approximately 0.7 million square feet of the saleable area

Godrej Properties

"Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio," said Gaurav Pandey, MD & CEO, Godrej Properties | File image

Aneeka Chatterjee Bengaluru

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Real estate developer Godrej Properties announced that it has purchased a 4-acre land parcel. The land is located in Yeshwanthpur abutting National Highway - 75, one of the prime locations in Bengaluru.

The recent project by Godrej Properties is estimated to have a developable potential of approximately 0.7 million square feet of the saleable area comprising primarily of premium residential apartments of various configurations with an estimated revenue potential of Rs 1,000 crore (based on current business assumptions) with scope to increase to Rs 1,250 crore basis additional 1-acre land acquisition, making it overall a 5-acre parcel.

The site is strategically located with a huge frontage on National Highway - 75 in Yeshwanthpur. The area offers well-developed commercial and social infrastructure. It is in proximity to Goraguntepalya and Peenya metro stations providing access to the Central Business District, (CBD) and other parts of Bengaluru. The location also provides connectivity to the Kempegowda International Airport and other key areas of Bengaluru through Outer Ring Road – Hebbal.

ALSO READ: Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

"Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio," said Gaurav Pandey, MD & CEO, Godrej Properties.

"This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India's leading cities," Pandey said.

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First Published: Jan 02 2024 | 10:09 AM IST

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